By Tiernan Ray

Samsung Electronics (005930KS) this evening reportedQ4 revenue of ₩59.2 trillion, and operating profit of ₩8.3 trillion, consistent with a prior forecast offered on January 7th, and short of the Street consensus of ₩59.7 trillion, and ₩8.9 trillion, respectively.

Samsung said trends in smartphones and tablets are showing up as weaker than normal this quarter relative to typical trends in the season.

Samsung shares traded up ₩16,000, or 1.2%, to ₩1,315,000.00, in Seoul morning trading.

While sales were up 6%, year over year, mobile product sales rose 9%, year over year, to ₩32.17 trillion. Quarter to quarter, however, mobile sales fell 9%.

Semiconductor sales rose 7%, quarter to quarter, but the company's business of making display panels was down 20% from the prior-year quarter, at ₩6.46 trillion.

In its chips business the company saw “seasonally strong demand,” while in its display business, the company remarked that panel demand declined thanks to an industry inventory glut, and prices fell.

In mobile, smartphone shipments were “down slightly due to year-end inventory adjustments and the base effect from strong 3Q growth,” while the company saw pressure on operating profit from higher marketing.

Tablet shipments were “up sharply QoQ driven by strong sales of Tab3 and Note 10.1(2014), released during end-3Q,” with growth mainly driven by sales into developed markets, meaning, North American and Europe.

For 2014, regarding handsets, the company projects “price/product competition to intensify amid accelerated replacement from feature-phones to smartphones,” and that smartphone demand growth will “continue with LTE service expansion in Europe/China and solid demand growthin emerging markets.”

In tablets, it said, it expects the “launch of various new products and intensified price competition, amid developed and emerging markets to continue rapid growth.”In summary, the company said, “Expect smartphone/tablet demand to decrease QoQ under weak seasonality.”

About Tech Trader Daily

Tech Trader Daily is a blog on technology investing written by Barron’s veteran Tiernan Ray. The blog provides news, analysis and original reporting on events important to investors in software, hardware, the Internet, telecommunications and related fields. Comments and tips can be sent to: techtraderdaily@barrons.com.